The country’s largest and most coveted awards program for community development financial institutions (CDFIs) announced today that it will award $8.25 million to two top-performing CDFIs: Coastal Enterprises, Inc. in Wiscasset, ME; and The Progress Fund in Greensburg, PA. The two CDFIs will use the  Wachovia Wells Fargo NEXT Awards for Opportunity Finance to bolster local economies and stimulate and retain job growth in disadvantaged communities.

The NEXT Awards recognize pioneering work by CDFIs, which are market-based, private sector financial intermediaries that provide financing to low-income, low-wealth, and other disadvantaged communities. The Awardees will be recognized at a celebration on November 15 at Opportunity Finance Network’s (OFN’s) 27th Annual Conference in Minneapolis, MN.

Program-Related Investments, Community Development